Anil Yadav (Finance & Accounts Manager) (44 Points)
20 January 2017
Saikrishnan S
(Chartered accountant - Plintron)
(186 Points)
Replied 20 January 2017
As per section 128 of companies act 2013, every company is required to maintain books of account for a period of not less than 8 years immediately preceding the relevant financial year.
Rahul Patidar
(student)
(70 Points)
Replied 21 January 2017
Hi,
According to Section 44AA of the Income Tax Act books of account shall be maintained for a period of 6 year from the end of relavant AY.
Tony John
(Chartered Accountant)
(6085 Points)
Replied 21 January 2017
As per Companies Act, books are to be preserved for atleast 8 years immediately preceding the current year.
Under the SEBI (Stock Brokers and sub-brokers) Regulations), 1992, books must be maintained for a minimum period of 5 years.
Income Tax Act prescribes a period of 6 years from the end of the relevant assessment year
Central Excise law prescribes a period of 5 years from the end of the relevant financial year for maintenance of Daily Stock Account (Rule 10)
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